If you are wanting to borrow for something special you may be tempted to accept the offer of easy loans from doorstep sales reps. DON’T!
Provident Personal Credit are often found offering their services in lower income areas and sell door to door. Borrow from them and you are bonkers! They charge interest at 177% interest.
That’s right 177%! It is something I think should be outlawed.
A far better option for those in York is to apply to the York Credit Union which works with Citizens Advice Bureau in York. They check that any borrowing applied for is affordable, but that should be welcomed because they believe in responsible lending. It costs £1 to join.
I met Mike Beckett of Citizens Advice and York Credit Union in the York Guildhall today at a Carers Day (part of a National Carers Week) I went away with a bundle of info.
York Credit Union is a great way to save too. You can start saving with a minimum payment of only £1. They even have a special Christmas Saver Account. By saving with them you are able to support the credit union’s work of protecting the vulnerable from being exploited and taken into unmanageable debt by unscrupulous lenders.
To pay back your loan some York employers have an arrangement with the Credit Union to have the payments made directly from your pay.
Have a look at their site for more info.
